Board Stewardship Huddle Delhi – A Resounding Success
The Board Stewardship Huddle took place on March 3, 2025, at Nilgiri Hall, The Oberoi, New Delhi. The event, hosted by Board Stewardship in partnership with Knowledge Partners – BoardPAC, JHS & Associates LLP, and Whistle Sentinel, brought together board professionals and compliance experts from all over India. Attendees engaged in lively discussions on key topics such as governance, compliance, technology, and financial stewardship. The gathering offered a unique opportunity for Independent Directors, both experienced and aspiring, to connect, share ideas, and gain fresh insights from one another.
With the theme “Connect, Collaborate, Celebrate,” the Huddle provided a dynamic space for engaging conversations and strategic networking. The event was led by Vikesh Wallia, Founder & Managing Director of Board Stewardship, and Shailesh Haribhakti, Board Chairman and Independent Director. The keynote address was delivered by Rajnish Kumar, Chairman of Mastercard India and former Chairman of SBI. During his address, Kumar emphasised the importance of the Stakeholders Relationship Committee (SRC) in serving the interests of stakeholders beyond just shareholders, in line with the current statutory mandate. He shared an example from the State Bank of India, where SRC member Directors also sit on the Customer Service Committee of the Board, looking after the interests of another critical stakeholder—customers. Kumar encouraged Boards to consider expanding the role of SRCs to benefit all stakeholders, going beyond the minimum LODR obligations.
The event featured a lineup of distinguished speakers, including Lloyd Mathias, Business Strategist and Independent Director; Shukla Wassan, Corporate Advisor and Independent Director; Shiv Shivakumar, Independent Director and Operating Partner at Advent International; Rear Adm. Sanjay Roye (Retd), Senior Advisor at Alvarez & Marsal; Poonam Burau, Founder & CEO of the WILL Forum for Women in Leadership; Dr. Shalini Sarin, Independent Director on various Boards in India & Europe, Chair of the ESG, CSR & NRC Committee; and Ira Agarwal, Founder & CEO of AIM Elevate Ventures. These experts led engaging discussions on finance, governance, law, and leadership, challenging traditional viewpoints and offering practical insights to improve boardroom effectiveness.
E-Book Release: “All About Stakeholder Relationship Committee”
A highlight of the event was the launch of the e-book “All About Stakeholder Relationship Committee,” authored by Lloyd Mathias. The book delves into the crucial role of Stakeholder Relationship Committees (SRCs) in promoting transparency, addressing investor concerns, and ensuring effective grievance resolution. It offers Independent Directors practical strategies for improving stakeholder engagement and enhancing Corporate Governance. During the launch, Mathias shared his perspective, stating, “The Board Stewardship Stakeholder Relationship Committee eBook is an effort to revisit the SRC mandate within the broader context of the company’s stakeholders – including shareholders, employees, customers, vendors, regulators, and the community. Currently, SRCs are often reduced to a formality, simply addressing shareholder grievances.”
Discussion on “Enhancing SRC Performance”
The panel discussion on “Enhancing SRC Performance” brought together insights from Rajnish Kumar, Shailesh Haribhakti, Lloyd Mathias, and Shukla Wassan. The session focused on ways to optimise SRCs, improve stakeholder engagement, and promote better communication between companies and investors. During the discussion, Shailesh Haribhakti shared a powerful thought, stating, “Human beings will always gravitate to altruism, and ethics must drive all guardrails for AI!” His words resonated as a reminder of the importance of ethical considerations in all aspects of governance and technology.
Board Opportunities and Personal Branding
Another key session, “Board Opportunities and Personal Branding,” led by Shiv Shivakumar, explored the growing opportunities for Independent Directors, evolving regulatory expectations, and the importance of building a strong personal brand in the boardroom. He pointed out, “India has 5,200 listed companies, the highest in the world. We also account for 33% of global IPOs, around 350 IPOs a year, which means 700 Independent Director roles. You need to be clear about why you want to be an Independent Director, based on your values and leadership, and work on building your personal brand to influence the right people.”
Women’s Day Special
In a special panel for Women’s Day, Sanjay Roye, Poonam Burau, Dr. Shalini Sarin, and Ira Agarwal discussed the growing influence of women in Indian boardrooms. Aligned with the International Women’s Day theme, “Accelerate Action,” the session emphasised the importance of increasing female representation in leadership and Corporate Governance.
Rear Adm. (Retd) Sanjay Roye shared his thoughts, stating, “I believe the time for incremental progress is over. Accelerating women’s representation on corporate Boards is not just a business and governance issue; it’s an economic imperative. We need to move beyond closed networks and outdated selection criteria, ensuring women are board-ready and capable, leading to real inclusion. NRCs, regulators, and investors must drive accountability and action. Let’s stop talking about change – let’s make it happen. The question is no longer ‘why’ but ‘how fast.’”
Ira Agarwal highlighted the shift in board dynamics, saying, “The traditional board approach is taking a backseat – digital Boards are the future. It’s crucial for board members to embrace AI-driven tools for smarter governance, faster decision-making, and better strategy.”
Poonam Burau stressed the importance of women on Boards, noting, “Women on Boards must be seen as part of a broader agenda for good Corporate Governance. Their presence is critical for building balanced, diverse, innovative, resilient, and agile Boards. It also plays a vital role in risk management, especially when envisioning future Boards with a wide range of diverse stakeholders, markets, customers, and investors. And there is no shortage of brilliant, talented, and accomplished women ready to fill Board Director seats.”
Interactive Learning, Huddle, Networking & Dinner
The Huddle wrapped up with an exclusive interactive learning and networking session, providing attendees the chance to connect with industry peers, share insights, and explore global opportunities in board roles, chair positions, and advisory roles.
Participants came from across India, including Bengaluru, Chennai, and Mumbai, and new members continued to join the Board Stewardship Huddle, marking the start of their journey into the world of Boards. Several key members were also recognised and felicitated during the event.
With support from Knowledge Partners – BoardPAC, JHS & Associates LLP, and Whistle Sentinel, the event reinforced Board Stewardship’s commitment to promoting responsible leadership, ethical decision-making, and long-term board effectiveness. The success of the Huddle highlighted the power of collaboration in shaping the future of Corporate Governance and leadership.
As panellist Shukla Wassan aptly put it, “It was an exceptional discussion on SRC. The depth of insight, especially on corporate best practices and emerging trends, was truly outstanding. Thoughtful analysis of how Indian SRCs can evolve beyond their current compliance-focused approach towards more strategic stakeholder integration models, as seen internationally, was especially invaluable. It was a thought-provoking conversation.”
